ONLINE RETAIL BUSINESSES
Do you agree that the prices of all goods should be lower on internet shopping sites than in shops?
It should be. Unlike physical stores, online shopping sites do not have to hire salespeople or rent locations. Therefore, the price of their products should be lower than in shops. Besides, in such today’s competitive market if online retailers want to promote their sales and outrun other competitors, they have to consider offering cheaper products. This is because buyers only want to shop wherever they can get the best price.
Will large shopping malls continue to be popular, despite the growth of internet shopping?
I’m sure they will. The biggest advantage shopping malls have over e-commerce is that customers can have wonderful experience while going shopping in the mall, instead of buying online and waiting for goods to arrive. Actually, people go to shopping malls not only for the shopping purpose, but also for entertainment. This place can be used for family gatherings at the weekend with endless exciting events for people to be entertained. Also, shopping at a mall allows you to try on every piece of clothes and make sure it fits before you invest in it.
Do you think that some businesses (e.g bank and travel agents) will only operate online in the future?
I’m not so sure about this, maybe it’s possible. Since online payment has become extremely popular these days, every service now can be done online. And actually, it is even safer to use online banking services because people will no longer need to bring cash to the bank. I can also see that booking flight tickets online is gaining great popularity as it is super convenient and all information has already been fully available on the website. Regarding the advisory role of consultants, instead of having face-to-face interactions, customers can use a chatting system which allows them to interact with the staff easily.